Commuting expenses are “very important” for 37% of this year’s buyers and “somewhat important” for another 29%. In fact, buyers are 50% more likely to compromise on price than on a home’s distance from the office.

That commuting time is nearly as important as overall affordability speaks to buyers’ concerns over carrying costs. Mortgage rates are low and likely to stay that way, but other costs of homeownership are escalating or volatile, so today’s buyers are focusing on those variables.

The NAR’s breakdown of core monthly homeownership expenses found that buyers cited as “very important”: